Free Trial

Narrow Range Ahead ECB Rate Annc, Weekly Claims, ULC

US TSYS
  • Treasuries are hovering around steady to mildly lower, inside a narrow overnight range as they trade off recent lows. Focus on upcoming ECB rate announcement at 0815ET, a well telegraphed rate cut widely anticipated.
  • US Data follows with Weekly Claims, Unit Labor Cost and Trade Balance at 0830ET with the main focus on Friday's headline employment report for May (185k jobs gain anticipated vs. +175k prior).
  • Cash yields are currently mildly higher: 2s +.0081 at 4.7303%, 10s +.0135 at 4.2890%, 30s +.0102 at 4.4399%, while curves look steeper: 2s10s +0.547 at -44.340, 5s30s +0.074 at 13.455.
  • Sep'24 10Y Treasury futures are trading -1 at 110-08.5 after trading 110-12 early overnight -- through the bull trigger at 110-09 next, the May 16 high. Next technical resistance at 110-17 (High Apr 4).

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.